A Motilal Oswal Move Sends This Small-Cap Stock Flying 4%
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Shares of Gufic BioSciences were on the rise on Friday after brokerage Motilal Oswal decided to invest in the small-cap drugmaker.

What Happened: Motilal Oswal said its financial services committee had approved an investment in Gufic in line with its fund-based investment strategy.

See Also: Madurai’s 21-Year-Old That Turned A Kitchen Experiment Into A ₹10 Crore Business

The brokerage will acquire or subscribe to 33.33 lakh shares at ₹300 per share for a total deal value of just under ₹100 crore. The per share value was actually at a 3.03% discount to the Pharma firm’s last close of ₹309.4 on Thursday.

The stock has climbed over 30% in the past month and over 50% in the past six months.

Price Action: Gufic BioSciences’ share price went up 4.14% to ₹322.2 after the announcement in afternoon trade on Friday.

Exclusive: Blue Tokai Changed The Coffee Game In India—And Still Has More Brewing

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesNewsAsset SalesMarketsMoversTrading IdeasGufic BioSciencesMotilal Oswal